Given the following information, determine the total average tax rate for a BC resident earning $100,000 in employment income.     Tax Rates Tax Brackets   Federal 15.00%          Up to $43,953          22.00             43,954−87,907          26.00             87,908−136,270          29.00             136,271 and over          British Columbia 5.05%          Up to $ 40,120          9.15             40,121−80,242          11.16             80,243−150,000          12.16             150,001−220,000          13.16             220,001 and over            Multiple Choice   15%   37.16%   20.05%   42.16%   27.31%   Show the steps please

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Given the following information, determine the total average tax rate for a BC resident earning $100,000 in employment income.

 

  Tax Rates Tax Brackets
  Federal 15.00%          Up to $43,953       
  22.00             43,954−87,907       
  26.00             87,908−136,270       
  29.00             136,271 and over       
  British Columbia 5.05%          Up to $ 40,120       
  9.15             40,121−80,242       
  11.16             80,243−150,000       
  12.16             150,001−220,000       
  13.16             220,001 and over       
 

 

Multiple Choice
  •  

    15%

  •  

    37.16%

  •  

    20.05%

  •  

    42.16%

  •  

    27.31%

     

    Show the steps please 

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